The Bryn Mawr Trust Company received its Pennsylvania banking charter in
1889 and is a member of the Federal Reserve System. In 1986, Bryn Mawr Bank
Corporation (the “Corporation”) was formed and on January 2, 1987,
the Bank became a wholly-owned subsidiary of the Corporation. The Bank and Corporation
are headquartered in Bryn Mawr, Pennsylvania, a western suburb of Philadelphia.
The Corporation and its subsidiaries offer a full range of personal and business
banking services, consumer and commercial loans, equipment leasing, mortgages,
insurance and wealth management services, including investment management, trust
and estate administration, retirement planning, custody services, and tax planning
and preparation from 26 full-service branches, eight limited-hour retirement
community branches, five wealth offices and a full-service insurance agency
throughout Montgomery, Delaware, Chester, Philadelphia and Dauphin counties
of Pennsylvania and New Castle County in Delaware. The Corporation’s common
stock trades on the NASDAQ Stock Market (“NASDAQ”) under the symbol
BMTC.
The goal of the Corporation is to become the preeminent community bank and
wealth management organization in the Philadelphia area. The Corporation’s
strategy to achieve this goal includes investing in foundational strength to
support its growth, leveraging the strength of its brand, building out its core
franchise and targeting high potential markets, basing its sales strategy on
high performing relationships, concentrating on core product solutions and broadening
the scope of its product offerings, using the Corporation’s human resources
as a strategic advantage, engaging in inorganic growth by strategically acquiring
small to mid-sized banks, insurance brokerages, wealth management companies,
and advisory and planning services firms, and lifting out high-performing teams
where strategically advantageous.
The Corporation operates in a highly competitive market area that includes local,
national and regional banks as competitors along with savings banks, credit
unions, insurance companies, trust companies, registered investment advisors
and mutual fund families. The Corporation and its subsidiaries are regulated
by many agencies, including the Securities and Exchange Commission (“SEC”),
the Federal Deposit Insurance Corporation (“FDIC”), the Federal
Reserve and the Pennsylvania and Delaware Departments of Banking.
The Bryn Mawr Trust Company of Delaware (“BMTC-DE”) is a limited-purpose
trust company located in Greenville, DE and has the ability to be named and
serve as a corporate fiduciary under Delaware law. BMTC-DE employees are included
in the Corporation’s employment numbers. Being able to serve as a corporate
fiduciary under Delaware law is advantageous as Delaware statutes are widely
recognized as being favorable with respect to the creation of tax-advantaged
trust structures, LLCs and related wealth transfer vehicles for families and
individuals throughout the United States. BMTC-DE is a wholly-owned subsidiary
of the Corporation.
The Bank is engaged in commercial and retail banking business, providing basic
banking services, including the acceptance of demand, time and savings deposits
and the origination of commercial, real estate and consumer loans and other
extensions of credit including leases. The Bank also provides a full range of
wealth management services including trust administration and other related
fiduciary services, custody services, investment management and advisory services,
employee benefit account and IRA administration, estate settlement, tax services,
financial planning and brokerage services.
The Bank presently has 26 full-service branch offices, eight limited-hour retirement
community branches, three wealth management offices and a full-service insurance
agency. See the section titled “COMPETITION” later in this item
for additional information.
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